final inventory
[/ˈfaɪnəl ɪnˈvɛntəri/]
nounpl: final inventories
inventário final
1. A complete count and valuation of all goods, materials, and assets remaining in stock at the end of an accounting period or fiscal year
The final inventory showed a significant decrease in warehouse stock compared to the previous quarter.
O inventário final mostrou uma diminuição significativa no estoque do armazém em comparação com o trimestre anterior.
2. The physical and accounting process of determining the quantity and condition of remaining merchandise at the conclusion of a business cycle
We must complete the final inventory before closing the books for the year.
Devemos completar o inventário final antes de encerrar os registros do ano.
3. The monetary value assigned to unsold merchandise at the end of a financial period for balance sheet purposes
The accountant calculated the final inventory valuation using the FIFO method.
O contador calculou a avaliação do inventário final usando o método FIFO.
Final inventory is a critical component of year-end accounting procedures in both American and Brazilian businesses. In Brazil, the 'inventário final' is essential for tax compliance and financial reporting to the Brazilian Internal Revenue Service (Receita Federal). Companies typically conduct physical inventory counts in December or their fiscal year-end. The process is subject to Brazilian Generally Accepted Accounting Principles (GAAP - Princípios Contábeis Geralmente Aceitos) and is heavily scrutinized during audits.
Look up more words on Fala2Me
The free English-Portuguese dictionary with real Brazilian accents, NYC slang, conjugator and more
Open Fala2Me →